3064 NEW ZEALAND GAZETTE No. 126

Reserve Bank

Reserve Bank of New Zealand Act 1989

Registered Bank Disclosure Statement (Full and Half-Year—New Zealand Incorporated Registered Banks) Order 1998

MICHAEL HARDIE BOYS, Governor-General

ORDER IN COUNCIL

At Wellington this 24th day of August 1998

Present:
His Excellency THE GOVERNOR-GENERAL IN COUNCIL

Pursuant to section 81 (1) of the Reserve Bank of New Zealand Act 1989, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, and on the advice of the Treasurer given in accordance with a recommendation of the Reserve Bank of New Zealand, hereby makes the following Order.

Analysis

1. Title, Application and Commencement

Part I—Preliminary

2. Interpretation

3. Form, Frequency and Distribution of Disclosure Statement

4. General Provisions Relating to Content of Disclosure Statement

Part II—Key Information Summary

5. Content of Key Information Summary

Part III—General Disclosures to be Contained in General Disclosure Statement

6. General Matters

7. Guarantee Arrangements

8. Registered Bank: Directorate and Auditors

9. Conditions of Registration

10. Pending Proceedings or Arbitration

11. Credit Ratings

Part IV—Financial and Supplementary Disclosures to be Contained in General Disclosure Statement

12. Content of Financial and Supplementary Disclosures

13. Historical Summary of Financial Statements

14. Members of Banking Group

15. Auditor’s Report

16. Other Material Matters

17. The Directors’ Statement

Part V—Supplemental Disclosure Statement

18. General Matters

19. Guarantors

20. Conditions of Registration

Schedules

1. Supplementary Financial Disclosures, and Asset Quality

2. Capital Adequacy of the Registered Bank and the Banking Group

3. Concentration of Credit Exposures to Individual Counterparties

4. Credit Exposures to Connected Persons

5. Securitisation, Funds Management and Other Fiduciary Activities

6. Risk Management Policies

7. Exposures to Market Risk

8. Measurement of Market Risk Exposure

Order

1. Title, Application and Commencement—(1) This Order may be cited as the Registered Bank Disclosure Statement (Full and Half-Year—New Zealand Incorporated Registered Banks) Order 1998.

(2) This Order applies to every Registered Bank incorporated in New Zealand.

(3) This Order shall come into force on the 1st day of October 1998 and replaces the Registered Bank Disclosure Statement (Full and Half-Year—New Zealand Incorporated Registered Banks) Order 1995 which is hereby consequentially revoked.

(4) The first Disclosure Statement required by this Order in respect of a Registered Bank shall be in respect of the first Balance Date which occurs after 1 October 1998, or in respect of a Registered Bank which becomes a Registered Bank after 1 October 1998, shall be in respect of such date (whether before or after the date of registration) as the Reserve Bank shall determine.

(5) Where the Reserve Bank, pursuant to clause 1 (4) of this Order, determines the date in respect of which a Disclosure Statement shall be published, a reference in this Order to a Balance Date shall be read as if it were a reference to that date.

Part I

Preliminary

2. Interpretation—(1) Any term or expression used in this Order that is not defined in this Order:

(a) which is defined in the Act shall, unless the context otherwise requires, have the meaning given to it by the Act;

(b) which is not defined in the Act and which is defined in the Conditions of Registration shall, unless the context otherwise requires, have the meaning given to it by the Conditions of Registration; and

(c) which is not defined in the Act or in the Conditions of Registration shall, unless the context otherwise requires, be interpreted in compliance with generally accepted accounting practice (as that term is defined in section 3 of the Financial Reporting Act 1993).

(2) References in this Order to the singular include the plural and vice versa.

(3) In this Order a reference to an “FRS” is a reference to a Financial Reporting Standard approved or given authoritative support from time to time by the Accounting Standards Review Board pursuant to sections 24 and 27 of the Financial Reporting Act 1993.

(4) In this Order, unless the context otherwise requires:

‘Accounting Period’ has the meaning set out in the Companies Act 1993.

‘Act’ means the Reserve Bank of New Zealand Act 1989.

‘Address for Service’ in relation to:

(a) an individual, means the address of their usual place of business in New Zealand or, if no such address exists, the address of their usual place of business outside New Zealand;

(b) a company within the meaning of section 2 (1) of the Companies Act 1993, means the address for service adopted by the company under section 192 of that Act;

(c) any other entity, means the address of its principal office or principal place of business in New Zealand.